Gary Vaynerchuk Is 100% Correct on Real Estate

Gary Vaynerchuk Is 100% Correct on Real Estate

50 thoughts on “Gary Vaynerchuk Is 100% Correct on Real Estate

  1. Being house poor is a financial trap for most middle/upper middle class drones.
    Their parents push it and their kids follow their parents example.

  2. Gary Vee also can't seem to be able to make a 10 minute video without him cursing in it even though he knows that more people would take him seriously if he quit the habit, so I take everything he says with a grain of salt at this point.

  3. I am 32 and my wife is 25. We just bought our first home: 2100 sq ft with about $45000 down payment + closing. I am just finishing graduate school with no debt (yay scholarships) and will be making combined about $170,000 a year (she is already working, my job starts next month). We had enough in the bank to buy the house cash and then some…..did we make a mistake by buying a home to live in?

  4. Not everyone likes to invest in RE. Everyone has their own style of growing wealth. Some people just focus on RE, others just in stocks, or start-ups.

  5. Absolutely love that you did this video! Especially after watching Gary’s original video on it a couple weeks ago and totally knowing what he’s talking about, since getting in the wholesale and rei game ourselves, renting for ourselves and planning to buy and hold rentals this year for cash flow! Learning is the biggest asset πŸ™ŒπŸΌ Thanks for all you and Natali’s value πŸ™πŸΌβœ¨

  6. In the area of WA state I live in you can get an FHA loan on owner occupied multi-family for up to 1 million dollars with only 3.5% down. House hacking can still make sense.

  7. I'm currently studying as much information I can about owning and managing a rental property while attending University and at the same time, saving the capital, to then after college purchase my first rental property!

  8. The book The Millionaire Next Door written in the 90s says dont pay more then 2 years gross wages for a house your going to live in.

  9. I disagree with the house hacking part. Suppose you purchase a $350,000 two family home to live in lower New York. The bank usually wants to see income that can cover expenses.

    The rental unit generating an additional $1,700 to $2,500 pre-tax is surplus capital. So up to $30,000 "pre-tax" income per year or look at it as up to $300,000 "Gross revenue" per 10 years.

    Source: First hand knowledge

  10. Yes…sticking to what he his saying in regard to $200k+ downpayment and bieng entrepreneurial then yes IF you can make money with the business you start then it applies it's not complicated.

  11. Love your comment about trying to get anything done with 3 kids. We have 4, soon to be 5, and when my wife asks me if I can just β€œwork from home” some days, I know good and well no work will get done.

  12. I had $6500 saved. Got a THDA loan that paid the down payment and only paid out for the appraisal, inspection and $1200 in closing costs. Rent is at least a $1000 a month here. It made more sense for me to buy than to rent.

  13. There is no point explaining to zombies what he talks about most people live with this stupid ideea that buying a home is a "good investment" investment= makes you money MONTHLY period

  14. What if you sold the home to your LLC and then became a renter of that property? That seems like it would offset a great deal of the liability of the home/mortgage.

  15. I totally agreed with you until you mentioned house hacking. Your house hacking numbers are way off. If you're living in the duplex ot triplex, you don't have to put down 20%. More like 3.5% which makes a huge difference when it comes to liquidity. Sure PMI will be added to the mortgage but if you buy right, that can be paid from the rental income you'll recieve from the other units. Just my 2 cents… I enjoy the content and conversation.

  16. I often get told I'm stupid not buying a property to live in but I've been able to buy over 10 units total in the first 2 years of my real estate career and I'm going to keep building my portfolio. Thanks for all the information you share I have learned a lot.

  17. Cool Video !! ✨✨ Liked 😊😊 & I Have you Subscribed . Please visit my channel and like & comment on my latest video I made thank you JT 😊😊

  18. My son follows Gary Vee and I follow Morris Invest, so I decided to listen. Now I have a question, we moved to upstate, NY, so a member of the family could gather more work experience in their field at a local hospital. Instead of renting (we had a lot of furniture), for $1000-$1500 a month, we purchased a two family home for $70,000 cash. Yes, it needs work and we have cleaned up painted and in process of more fixing( living in one apartment at the moment) and will start on downstairs renovation to rent. So would this be considered a bad investment? (I know no cash flow at the moment, nor do we want to incur any debt by financing)

  19. Very inspiring! Thanks for continually emphasizing the psychology of investing time, education and dollars into income producing assets, "the mindset of the rich," to paraphrase Kiyosaki. Great stuff!

  20. I must be failing in life, I'm 27 with a family and I could never be able to put 200-300,000 as a down payment on a house?!?!

  21. Gary Vee's logic makes sense if you think of Real Estate like a business. Real estate is a business. I am really enjoying watching these Real Estate Youtubers respond to this Gary Vee comment!

  22. There is no "never" or "always". Buying your own home can be a great way to invest, and has enabled many people to start businesses. Examples: 1. Buy your first home. Move to a second home, keep the first one as a rental. Seen it done. 2. Buy your first home as a fixer upper. Sell home after remodeling 2 years later, make $50,000 after taxes. Seen it done. Those were great real estate investments that required very little money down, and made use of someone else's money. It's good to challenge the traditional advice, but be wary of saying something is "never" a good investment. There are examples from all sides.

  23. I was kinda giggling that while Gary was talking all the people in the room were feverishly typing on their computers. (nobody wants to look like they are not working around Gary πŸ™‚

  24. well my tiny condo in irvine, ca is 800k and i pay rent to a land lord for 2500. to buy it would be 6000/mo. no brainer

  25. These guys numbers are off. Who in there mid 20s has 250 000 for a down payment? I live near Vancouver bc and bought my house in 2017 for 405 000. Everyone told me not to buy because the market was high. 6 months later my place jumped up to 515 000. This video should be opposite. I see "entrepreneurs" loose more then I see them win. Sick of people making it sound so easy to start a business and be successful. Being a business owner is not worth it unless you earn a lot to make it worth it. I have an average job making 30 an hour but plan to use the real estate market to amplify my humble income through my lifetime. Real entrepreneurship is very high risk.

  26. Mortgage + utilities 90% of the time is less than the cost to rent a unit, therefore you'll have far more money to invest in your business, especially if the house you buy is a duplex, i know from experience as i am a current landlord and business owner

  27. How about just living with your parents? I know it’s frowned upon but you could possibly pay less rent to them or no rend at all. Not only paying less to nothing, you get a better relationship with your parent and you making more money because you’re not spending it with high living expenses.

  28. Yeah… Problem is from what I've seen mortgage payment is cheaper than renting an apartment oh, and there's only so many businesses you can start in any one area. Maybe you guys are more used to being closer to urban areas and that's your problem? Oh and I think you're assuming that everyone's going for the really expensive houses instead of just a house

Leave a Reply

Your email address will not be published. Required fields are marked *